Rep. Paul cheers court ruling to disclose Fed records

Rep. Ron Paul (R-Texas), the lawmaker most critical of the Federal Reserve, praised a federal appeals court decision compelling the central bank to disclose records from the financial bailout.

"He offers his congratulations to the plaintiffs and hopes the decision stands," said Rachel Mills, spokeswoman for the lawmaker.

Paul has been a prominent critic of the central bank, and he sponsored an amendment to subject the Fed to wider government audits. The audit measure, which garnered more than 300 co-sponsors in the House, became part of financial overhaul legislation.

The broader bill passed the House in December, but Senate financial legislation so far lacks the audit language.